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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Process costing
A product goes through two processes. Last month’s data for process two was as follows:
Normal loss is 5% of input. All losses are fully processed and have a scrap value of $3 a litre. Closing work in progress is fully complete for material but is only 20% processed.
Information’
Material transferred from process one 3,200 litres at $5 a litre
Conversion costs 8,500
Output transferred to finished goods 2,800 litres
Closing work in progress 100 litres
1,what is the value of the completed output? $
2,What is the value of the closing work in progress (to the nearest cent?
Hello sir or mam can you please help me to solve this problem step by step
No – we do not provide full answers to full questions.
You must have an answer in the same book in which you found the question. Ask about whatever it is in the answer that you are not clear about and then I will explain.